The EVM-compatible Layer 2 resolution will carry a verifiably decentralized different to the rising Bitcoin DeFi house.
Botanix Labs, the workforce behind the Botanix Bitcoin Layer 2 introduced the launch of the Botanix mainnet at present, July 1, per a press launch shared with The Defiant.
The mainnet is launching with integrations from some acquainted faces equivalent to Chainlink and Fireblocks on the infrastructure aspect, and GMX on the decentralized software (dApp) aspect.
The launch comes shortly after Botanix’s transition to an unbiased node-led governance and consensus mechanism, making the community a verifiably decentralized Bitcoin Layer 2 (L2). A few of these node operators embody the likes of Galaxy, Fireblocks, and Alchemy. The operator set is made up of 16 node operators at launch, and goals to broaden past 100 operators in 2026.
Final yr, the community raised $11.5 million with participation from well-known crypto VCs, together with Polychain Capital and Placeholder Capital.
Along with its decentralized community, Botanix Labs seems to supply entry to reliable names in DeFi, equivalent to decentralized trade GMX, and on-chain cash market, Dolomite. The chain’s DeFi scene may even be closely targeted on the incorporation of sBTC, a yield bearing, on-chain Bitcoin token.
The product rollout will function what’s known as Bitcoin 2100, an interactive launch marketing campaign the place customers can get acquainted with Botanix’s mainnet, and earn free Bitcoin within the course of, with some prize swimming pools reaching as excessive as 0.5 BTC, or $54,000.
Botanix Labs CEO and co-founder Willem Schroé defined the necessity for native yield in a Bitcoin DeFi ecosystem to essentially entice its main viewers — Bitcoiners.
That is achieved by way of the community’s stBTC token — 50% of all gasoline charges go towards the token with a view to present its holders with clear and native yield options.
“Bitcoin DeFi is about to break-out in my view…we predict the online new customers of people that haven’t been in DeFi are Bitcoiners, and quite a lot of them will in all probability set up Metamask for the primary time,” Schroé instructed The Defiant in an interview.
Coinflipcanada, a core contributor to GMX, instructed The Defiant, “We’ve a tried and examined product we really feel very assured bringing ahead to bitcoiners…I feel we’ve tried to keep away from altering too many issues and we predict there’s going to be an enormous unlock of bitcoin itself inside Bitcoin layer 2s.”
“I feel one of many nice issues with Layer 2s growing on Bitcoin is that there’s a actual deal with yield, and not simply yield, however the precise financial utility of Bitcoin. There may be precise utility to what it is possible for you to to do with Bitcoin” he concluded.
Disclaimer: This text has been up to date to appropriate the identify and title of coinflipcanada.
